Capital One Introduces Enhanced Rewards Card for Small Businesses

"Travel and entertainment is a significant spend category for many small business owners. As such, we created the Preferred No Hassles Miles credit card so that our customers could earn the most rewards where they spend the most money," said Dave Wasik, Senior Vice President, Capital One Small Business.

With no annual fee, customers earn two miles per dollar on all travel and entertainment purchases made with airlines, restaurants hotels, bowling alleys, buses/charters, car rentals, cruise lines, movie theatres, passenger railways, taxicabs/limousines, timeshares, travel agents, and video rental stores. This broadened definition of the travel and entertainment category, which has traditionally been limited to airline and restaurant transactions, coupled with Capital One's no foreign transaction fee policy, makes this card ideal for business owners looking for more flexibility in earning rewards on their travel and entertainment purchases. Additionally, customers will earn one mile per dollar for all other purchases. Miles can be redeemed for travel, gift cards, merchandise, and even cash that can be put back into their business.

Consumers will enjoy the same 'no hassle' rewards benefits Capital One has offered for years, including no blackout dates, no seat restrictions, no advance booking or Saturday night stay requirements, and flights on any airline. Customers redeeming for travel simply purchase their ticket using their Capital One Preferred No Hassles Miles credit card, then call Capital One or go to www.capitalone.com to reimburse the charge with miles. The cost of the ticket is refunded on the next statement. The number of rewards required is based on ticket price. And, as with all Capital One small business credit cards, there is no limit on miles that can be earned and miles don't expire for the life of the account.

Online Bill Pay is an additional benefit offered through Capital One's Preferred No Hassles Miles credit card that allows small business owners to streamline payment of one-time or recurring bills to service providers. The option allows small business owners to pay bills with their credit card while waiting for vendors to pay them. It also offers the flexibility to view and pay bills from more than 200 companies in one place -- including cable, wireless, insurance, Internet service and more.

"Rewards cards are a great incentive for all consumers - but the Preferred No Hassles Miles card just makes sense for the small business segment. Business owners can take the double miles they earn and put them back into their business - or they can use them to reward themselves. Additionally, the card proves a valuable business resource offering Online Bill Pay which will help small business owners stay on track and organized," said Wasik.

The Preferred No Hassle Miles card is the latest offering from Capital One's broad portfolio of small business rewards credit cards. Along with the No Hassle Miles card, the portfolio of cards includes the Preferred No Hassle Miles, Double No Hassle Miles, No Hassle Cash and the Business Platinum card. Each one of these products gives small businesses a range of options tailored for every type of small business owner.